Saudi Arabias King Salman bin Abdulaziz and Nigerian President Muhammadu Buhari discussed efforts taken to stabilize and rebalance global oil markets in a telephone call, Saudi state news agency SPA reported on Wednesday. The two leaders "stressed the importance of compliance, by all participants, to the OPEC+ agreement and the agreed-upon compensation mechanism," SPA reported. A ministerial panel of key OPEC+ oil producers, headed by Saudi Arabia, is holding a virtual meeting later on Wednesday to review the oil market and the groups compliance with the current oil supply cut pact.